BNP Paribas Exane Lowers Molson Coors Beverage (NYSE:TAP) Price Target to $35.00

Molson Coors Beverage (NYSE:TAP) had its price objective cut by BNP Paribas Exane from $36.00 to $35.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage currently has an “underperform” rating on the stock. BNP Paribas Exane’s price target would indicate a potential downside of 9.23% from the stock’s current price.

TAP has been the topic of a number of other reports. Morgan Stanley decreased their price objective on Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating on the stock in a report on Monday, May 4th. Bank of America downgraded Molson Coors Beverage from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $50.00 to $42.00 in a research report on Wednesday, February 25th. JPMorgan Chase & Co. decreased their price target on Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $42.00 price objective on shares of Molson Coors Beverage in a research note on Friday, May 1st. Finally, Evercore cut their price objective on Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.00.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP traded down $0.35 during midday trading on Wednesday, reaching $38.56. 442,983 shares of the company’s stock were exchanged, compared to its average volume of 3,118,477. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. The company’s 50 day simple moving average is $42.62 and its two-hundred day simple moving average is $45.88. Molson Coors Beverage has a 12 month low of $38.35 and a 12 month high of $54.82. The firm has a market capitalization of $7.23 billion, a PE ratio of -3.62 and a beta of 0.41.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts expect that Molson Coors Beverage will post 4.74 earnings per share for the current fiscal year.

Insider Activity at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total transaction of $52,912.50. Following the sale, the director directly owned 9,871 shares in the company, valued at $419,517.50. This represents a 11.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew Thomas Molson purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average cost of $46.67 per share, with a total value of $93,340.00. Following the completion of the acquisition, the director directly owned 24,654 shares in the company, valued at approximately $1,150,602.18. This represents a 8.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.27% of the stock is owned by insiders.

Institutional Trading of Molson Coors Beverage

Hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC raised its position in shares of Molson Coors Beverage by 2,241.1% during the first quarter. NewEdge Advisors LLC now owns 24,137 shares of the company’s stock worth $1,039,000 after acquiring an additional 23,106 shares during the last quarter. Financial Solutions Advisory Group Inc. bought a new position in Molson Coors Beverage in the first quarter valued at about $1,086,000. Bank of America Corp DE boosted its holdings in Molson Coors Beverage by 36.5% in the first quarter. Bank of America Corp DE now owns 1,187,921 shares of the company’s stock valued at $51,152,000 after acquiring an additional 317,387 shares during the last quarter. Kentucky Retirement Systems increased its position in Molson Coors Beverage by 24.0% in the first quarter. Kentucky Retirement Systems now owns 13,054 shares of the company’s stock worth $562,000 after purchasing an additional 2,523 shares during the period. Finally, Janus Henderson Group PLC increased its position in Molson Coors Beverage by 3.2% in the first quarter. Janus Henderson Group PLC now owns 123,095 shares of the company’s stock worth $5,301,000 after purchasing an additional 3,848 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

About Molson Coors Beverage

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.